Adjusting the social footprint methodology based on findings of subjective wellbeing research

Following some years of practical application, weaknesses have been identified in the original 2018 version ‘social footprint’ methodology, where wellbeing was seen as exclusively related to consumption activities and inseparably linked production through budget constraint, implying that value limited be a mirror production. Several improvements both methodology data are presented here. The theoretical inspired by suggestion Juster et al. (Rev Income Wealth 27: 1–31, 1981) can sum added generated from work intrinsic activity benefits, i.e. positive affect performing or taking part specific leisure activities. This implies relatively low preference for income relative which is confirmed recent findings subjective research. Other research provide constraint on conversion factor between Disability-Adjusted Life-Years (DALY) Quality-Adjusted person-Life-Years (QALY), leading surprising 0.3 QALY/DALY, against more intuitive 1 QALY/DALY. These improvements, combined with availability country-specific impacts wellbeing, allow calculate global potential level 0.958 QALY/person-life-year, replacing productivity methodology. new allows valuation assessed separately inequality, latter now done equity weights average baselines, rather than baseline used version. confirm dominating role missing governance, quantified at 78% all sustainability impacts, motivation rationale behind